The Real Deal Miami

Mortgage, refinancing applications fall

July 01, 2009 03:53PM

Applications for mortgages and refinancings fell in the week ending June 26, compared to the previous week, according to data released today by the Mortgage Bankers Association. Mortgage loan applications stood at 444.8 on the association’s scale, an 18.9 percent decrease on a seasonally-adjusted scale from the previous week and a 7.4 percent decrease year-over-year. The association’s index of refinancings fell 30 percent from the previous week, to its lowest level since November. The average interest rate for a 30-year fixed-rate mortgage fell to 5.34 percent from 5.44 percent. TRD